The record €50 million fine for
Google, the first-ever significant enforcement action under the
General Data Protection Regulation (GDPR), has unsettled tech
companies with complicated structures. Some are increasingly
concerned about the risk of high fines, which could see them
needing to refinance.
"People expect high standards of
transparency and control from us," a Google spokesperson told
IFLR. "We’re deeply committed to meeting those
expectations and the consent requirements of the GDPR.
We’re studying the decision to determine our next
Rather than bringing a case in the
location of Google’s headquarters, Ireland, the
case was brought by regulator CNIL in France, where its
decision centre is based.
"A fine may occur in a jurisdiction where an organisation
does not make sufficient profit," said Tim Ritchie, GDPR
consultant at Trig Consulting. "To pay it, the global
organisation may need to refinance in a way that attracts the
attention of other...